Strong milk chart: Does Bitcoin dare to hit a small new high first?
The chart of CryptoCon looks pretty good. The chart shows that the stable supply ratio of Bitcoin has touched the bottom of the Bollinger Band for the first time since June 2022 and has fallen to the green support area.
This situation only occurred in the black swan event in 2020. Other time periods are either major lows or cycle bottoms.
Explain two points:
1) At present, it has fallen to this value and area. Big funds are constantly reserving stable waves and preparing to enter the market.
2) Except for the 312 in 2020, the ratio value rarely falls to the current state, indicating that the bottom of Bitcoin is forming!
I think there will definitely be a wave of market before the November election. Let's get past this period first, and then we'll talk about December and next year.
Trading not only requires a long-term perspective, but also a short-term focus, and it is still necessary to explore the changes in the market based on conditional logic.
